Kenya’s National Social Security Fund (NSSF) has not reached any decision to divest from cement manufacturer Bamburi as had been reported in a Kenyan daily, the fund said in a statement on Friday.
The local Business Daily reported on Wednesday NSSF would be selling its 14 per cent in the local unit of Lafarge, which sparked a fall in shares of the Kenyan firm.
"The fund still holds a significant number of shares in Bamburi Cement and has not reached any decision to exit from the company," NSSF said in a statement printed in Friday’s edition of the Business Daily.
"The story creates an impression that the fund is contemplating complete exit from the company, which is not necessarily the case."
Bamburi share prices have declined 5.1 per cent to 185 shillings each since the newspaper report.